Senator Investment Group LP Acquires New Stake in Scholar Rock Holding Corporation $SRRK

Key Points

• Senator Investment Group acquired 205,000 Scholar Rock shares worth approximately $11.3 million, joining other institutional investors that recently initiated or increased positions. Institutions collectively own 91.08% of the company.
• Analyst sentiment remains broadly positive: MarketBeat reports a consensus “Buy” rating and an average price target of $58.77, with targets ranging up to $76.00 despite one sell rating.
• Scholar Rock shares opened at $57.80, near their 52-week high of $61.76. The company met quarterly earnings expectations with a loss of $0.84 per share, while insiders sold shares primarily to cover tax obligations on vested equity awards.

Senator Investment Group LP bought a new position in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 205,000 shares of the company's stock, valued at approximately $11,275,000. Senator Investment Group LP owned 0.17% of Scholar Rock as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nicholas Investment Partners LP bought a new stake in Scholar Rock during the 2nd quarter valued at about $4,968,000. BlackRock Inc. purchased a new position in shares of Scholar Rock during the second quarter worth approximately $522,175,000. Geode Capital Management LLC raised its stake in shares of Scholar Rock by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 2,034,024 shares of the company's stock valued at $89,616,000 after acquiring an additional 79,214 shares in the last quarter. iA Global Asset Management Inc. purchased a new stake in shares of Scholar Rock in the fourth quarter valued at approximately $5,430,000. Finally, Norges Bank bought a new position in Scholar Rock in the fourth quarter worth approximately $91,603,000. 91.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays upped their target price on Scholar Rock from $53.00 to $55.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Cantor Fitzgerald reissued an "overweight" rating on shares of Scholar Rock in a research report on Thursday, June 18th. Weiss Ratings restated a "sell (d-)" rating on shares of Scholar Rock in a report on Friday, July 17th. Citigroup increased their price objective on shares of Scholar Rock from $58.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $76.00 price objective on shares of Scholar Rock in a research note on Friday, August 7th. Four analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $58.77.

Scholar Rock Price Performance

Shares of SRRK stock opened at $57.80 on Monday. The stock's fifty day moving average price is $53.07 and its 200 day moving average price is $48.90. Scholar Rock Holding Corporation has a 1-year low of $27.07 and a 1-year high of $61.76. The company has a market cap of $7.04 billion, a price-to-earnings ratio of -16.75 and a beta of 0.69. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.02 and a quick ratio of 7.02.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share for the quarter, hitting the consensus estimate of ($0.84). During the same period last year, the company posted ($0.98) earnings per share. On average, research analysts expect that Scholar Rock Holding Corporation will post -3.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Scholar Rock

In related news, Director Michael Gilman sold 2,544 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.87, for a total value of $137,045.28. Following the completion of the transaction, the director owned 59,511 shares in the company, valued at $3,205,857.57. This trade represents a 4.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey S. Flier sold 3,053 shares of Scholar Rock stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total value of $164,495.64. Following the sale, the director directly owned 27,856 shares of the company's stock, valued at approximately $1,500,881.28. This represents a 9.88% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 17,149 shares of company stock worth $923,108 in the last three months. 10.30% of the stock is owned by company insiders.

Scholar Rock Company Profile

Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company's research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock's approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.

The company's lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source